Does filing for personal bankruptcy stop the foreclosure process?

It does. It automatically stops it for sixty days. If you look at filing a Chapter 13 where you can take the arrearages of your mortgage payments that led to the foreclosure, it can stay it indefinitely. It is a good way to save the home.

I was denied the mitigation program with my home loan. Is personal bankruptcy the next step?

Maybe, it really depends if you have a second mortgage. If you have a first mortgage you can lose the home in foreclosure, the bank takes the home and walks away. If you have a second mortgage, it is that second mortgage that pursues collection against you for the deficiency. Without having more information I am not sure if personal bankruptcy would be your next step, but you can give me a call and I can determine whether you should or not.

“It’s definitely a thorough consultation, the first sit down meeting with you. Which is wonderful. He definitely takes time. 303-955-7570″  Denise Plante, Colorado & Company, Channel 9

 If you live in the Denver, Aurora, Arvada, Wheat Ridge, Littleton, Englewood, Northglenn, Westminster, Broomfield, Lakewood, Brighton, Lafayette, or Golden, Colorado area, please feel free to contact me for a consultation at: 303-955-7570, or help@cobankruptcyhelp.com, or fill out the free consultation form.

This is an excerpt from an interview on the show Colorado & Company. You may view the whole interview at: http://wm.kusa.gannett.edgestreams.net/ads/sales/COCO/1249324018580-Heupel%20Law%20Firm%20080309%20.wmv .